5 Stocks ChatGPT Says Will Make Me Rich in 10 Years

4. Nvidia Corp (NASDAQ:NVDA)

Number of Hedge Funds: 180

Nvidia Corp (NASDAQ:NVDA) has been a blockbuster stock in 2023, gaining a whopping 217% in the period through December 7. But Nvidia Corp’s (NASDAQ:NVDA) outlook and the overall growth trajectory of AI makes it evident that Nvidia Corp (NASDAQ:NVDA) will continue to enjoy huge growth thanks to the rising demand of AI chips.

Piper Sandler recently promoted Nvidia Corp (NASDAQ:NVDA) as its large-cap stock pick, replacing AMD. The firm reiterated its Overweight rating on the stock and gave a $620 price target, which represents a strong upside potential based on its current stock price of $455.

As of the end of the third quarter of 2023, 180 hedge funds tracked by Insider Monkey were long Nvidia Corp (NASDAQ:NVDA) . The biggest stake in Nvidia Corp (NASDAQ:NVDA) belongs to Rajiv Jain’s GQG Partners which owns a $6 billion stake in Nvidia Corp (NASDAQ:NVDA).

Here is what Claret Asset Management has to say about NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2023 investor letter:

“We have mentioned in the last letter that the “magnificent seven”, including NVIDIA Corporation,dominated the performance of the S&P 500. We might have left you with the feeling that we are bearish because we don’t find the Magnificent 7 attractive. Let us make it clear: we are just not so pessimistic as to believe there are only 7 growth opportunities in the entire global equity market. In fact, we are optimists and think opportunity is abundant. Just not in everyone’s current 7 favorite stocks.”